The majority of property investors have remained upbeat during COVID-19, however the pandemic has made them reconsider not only where they buy, but also where they live, the 2020 PIPA Annual Investor Sentiment Survey has found.
The national annual survey, which gathered insights online from nearly 1,100 property investors during August, found that investors remained optimistic about the months ahead.
“While there is no doubt that 2020 has been one of the toughest in living memory for everyone around the globe, property investors have remained resilient in the face of the unprecedented uncertainty that we are all experiencing,” PIPA Chairman Peter
“Indeed, about 67 per cent of investors believe that now is a good time to invest in residential property, according to the survey, which is down from 82 per cent in 2019 and no doubt a direct impact of the pandemic.
“However, at the current time, the property market has continued to show its resilience with prices materially stable in most parts of the nation.”
Some 77 per cent of investors say any concerns about potential falling house prices won’t cause them to put their investment plans on hold, the survey found.
Mr Koulizos said about 44 per cent of investors are looking to purchase a property in the next six to 12 months.
“Plus, about 71 per cent of investors have indicated that the pandemic has made it less likely they will sell a property over the next year, which is another factor that will help to underpin property prices,” he said.
The survey found that more than 40 per cent of investors intend to buy property in a different State or Territory to the one that they live in.
Mr Koulizos said interstate investing had been growing in popularity over recent years as investors become more educated about the strategy.
“Investors are recognising the value of working with property investment professionals to help them secure the best opportunities across the nation,” he said.
While the majority of investors remain keen to push forward with their investment plans over the next year, this year’s survey also found they are considering buying, as well as living, in different locations.
More than 17 per cent of investors indicated that the pandemic had made them consider moving to another location, with regional areas set to benefit the most, according to the national survey.
“It’s no surprise that COVID19 and made many people reconsider their lifestyles with nearly one fifth of investors indicating they are contemplating a move,” Mr Koulizos said.
“The survey found for those investors considering relocating the main reasons for doing so were improved lifestyle factors (78 per cent), working from home in the future (46 per cent) and housing affordability (40 per cent).”